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The following transactions have been journalized and posted to the proper accounts. 1. Mark Call invested $7,000 cash in his new design services business. 2.
The following transactions have been journalized and posted to the proper accounts.
1. Mark Call invested $7,000 cash in his new design services business.
2. The business paid the first month's rent with $700 cash.
3. The business purchased equipment by paying $2,000 down and executing a note payable for $4,500.
4. The business purchased supplies for $850 cash.
5. The business billed its clients a total of $4,000 for design services rendered.
6. The business collected $3,000 on account from one of its clients.
How much was net income?
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